Credit Rating Agency

Cue the Losses: S&P Downgrades ACA Financial Guaranty to Junk 

On the heels of Moody’s recent warning on major financial guarantors, Standard and Poor’s said Wednesday that it has completed it’s own review — and promptly downgraded ACA Financial Guaranty Corp. to junk status, moving the guantor from an ‘A’ rating to ‘CCC.’ ACA guarantees $26 billion in mortgage-backed securities.